Ethereum Whales Accumulate, But Price Drops Below $2K
The Most Important Points at a Glance
Ethereum is experiencing increased buying activity, while a large transaction by a so-called “whale” withdraws 8,313 ETH worth $16.46 million from Binance. This movement suggests possible accumulation, but despite these positive signals, ETH’s price remains under pressure.
Whale Activity and Market Movements
According to Onchain Lens, a large investor withdrew 8,313 ETH from Binance after two months of inactivity. Following this transaction, the whale now holds 11,197 ETH worth $22.17 million. Such movements are often a sign of long-term confidence in the market.
Additionally, an analysis by CryptoQuant shows that Ethereum has recorded a negative net flow of over 150,000 ETH on derivatives exchanges in recent days. A negative net flow means that more ETH is being withdrawn from exchanges than deposited—an indicator of reduced selling pressure and increased accumulation by investors.
Price Development and Market Sentiment
Despite increased demand from large investors, Ethereum continues to struggle with a declining price. ETH fell below the $2,000 mark again, reaching a low of $1,963. This suggests that many market participants remain cautious and do not expect a quick recovery.
According to CryptoQuant, overall market sentiment remains bearish. Ethereum’s Fund Market Premium has been consistently negative over the past week. This indicates that investors are more willing to sell ETH at a discount rather than betting on rising prices.
Institutional Investors Remain Skeptical
Institutional investors from the U.S. in particular remain cautious. The Coinbase Premium Index is currently at -0.05, indicating that more ETH is being sold than bought on Coinbase. This hesitancy among institutional investors adds to the selling pressure on Ethereum.
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Outlook for Ethereum
Although large investors are accumulating ETH, overall demand remains weak. The market is in a balance between buyers and sellers, which could lead to sideways price movement. Under current conditions, Ethereum is likely to trade in a range between $1,862 and $2,100.
Our Assessment
The recent whale activity and negative net flow indicate increased accumulation, which could be positive for Ethereum in the long term. However, the short-term outlook remains uncertain, as many market participants continue to act cautiously. If buying interest strengthens, ETH could rise above the $2,000 mark in the medium term. Otherwise, a prolonged consolidation phase is likely.
| Symbol | ETH |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | $1,976.47 |
| 24h % | -0.12 % |
| 7d % | 2.22 % |
| 30d % | -27.17 % |
| 60d % | -40.91 % |
| 1y % | -42.71 % |
| Market Cap | $238,427,355,335.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
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